Did Chinese enterprises reap the first wave of "dividends"? On October 3, it marked ten months since Venezuela's President Maduro was detained in the United States. Rather than descending into the chaos many had anticipated, Venezuela has delivered a performance that prompted several institutions to revise their assessments. In the first eight months of this year, bilateral trade between China and Venezuela reached $5.057 billion, a 20% year-on-year increase—outpacing China’s overall 14.5% growth rate with Latin America. Chinese exports to Venezuela rose nearly 30%, while Venezuela’s exports to China grew by 12.6%. Venezuelan consumers are now purchasing Chinese new energy vehicles.

The source of these gains lies not in any special initiative by China, but in Venezuela’s economic policy shift under its new government. After Maduro’s detention, Vice President Rodríguez assumed interim presidential duties. Her administration’s central policy has been to lift regulatory restrictions on the oil sector. Oil production, which had fallen to around 700,000 barrels per day under Maduro’s rule, rebounded to approximately 1.2 million barrels per day by August. This recovery in output improved state revenues and contributed to a revival in domestic consumption.

Chinese automotive brands now account for 45% of new vehicle sales in Venezuela. At its core, this reflects a market dynamic: Venezuelan consumers have regained purchasing power, and Chinese products—offering competitive pricing and reliable performance—have met that demand. This is not a market seized through strategic maneuvering, but a natural outcome of Venezuela’s economic recovery.

In fact, China’s presence in Venezuela predates Maduro’s era.

Joint ventures, oil-for-loan agreements, and infrastructure cooperation projects represent long-term strategic investments. Regardless of political changes in Venezuela, China’s investment rights have remained protected. This reality is widely recognized globally, including by Western nations such as the United States—no actor dares recklessly target China’s overseas assets.

Original article: toutiao.com/article/1878174314700803/

Disclaimer: The views expressed in this article are those of the author alone.